Compass Point Begins Coverage on Robinhood Markets (NASDAQ:HOOD)

Investment analysts at Compass Point assumed coverage on shares of Robinhood Markets (NASDAQ:HOOD) in a note issued to investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $61.00 price target on the stock. Compass Point’s target price indicates a potential upside of 52.12% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Sanford C. Bernstein boosted their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Keefe, Bruyette & Woods boosted their price objective on Robinhood Markets from $38.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Morgan Stanley boosted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Wolfe Research downgraded Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Robinhood Markets Price Performance

NASDAQ HOOD opened at $40.10 on Wednesday. The company has a market cap of $35.51 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average of $48.86 and a two-hundred day moving average of $36.90. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, analysts anticipate that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $37.51, for a total value of $11,253,000.00. Following the completion of the sale, the insider now owns 806,955 shares in the company, valued at approximately $30,268,882.05. The trade was a 27.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $46.81, for a total value of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares of the company’s stock, valued at $821,936.79. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,985,127 shares of company stock worth $142,455,378. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $26,000. True Wealth Design LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth approximately $30,000. CoreCap Advisors LLC raised its stake in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.